Q1

As us all know, OIL and GAS industry is one in all the greatest zone in the expressions of dollar,
also known as overall powerhouse which utilized loads of individuals or individuals and creates
greenback in billions every year at overall degree. Supportability has develop to be an absolutely
fundamental a piece of the business for its encouraging. This industry has always grasped
ecologically feasible venture rehearses and has Guidelines and Policies and taken nonstop
endeavors to keep natural and social pleasantly being.

There are different supportable drivers or practical components that have tough effects on the
business in one of a kind methodologies.

1. Financial Impact: Sustainable improvement investigates relationship among fiscal

improvement, ecological incredible and social value. The money related component of
practical improvement is called benefit. The improvement should be socially
comprehensive and naturally reasonable. At the point when the gatherings stressed make
a money related cost to their running condition, we term it as manageable increment. The
real reason of maintainable blast inside the business setting is the point at which the
'Genuine Output', estimated by means of GDP-Gross Domestic Product, increments after
some time at normal charges. It is additionally fundamental that practical monetary
development doesn't make budgetary issues by means of debilitating resources for
predetermination ages.

2. Natural Impact: It expands contamination day by day with a high rate of pace and poisons
owing to admission of Company-created oil based commodities (circuitous effects). It
additionally influences on water sources (water consumption for procedure wishes; water
contamination coming about because of activities, spillages and wounds).

3. Social Impacts: Through selling moral social and business endeavor rehearses through
severe recognition of human rights, correspondence, straightforward provider and
temporary worker relations, and a socially responsible technique to combination of the
Company, its auxiliaries and partners. The Company ensures solid business and offers
forceful pay and social help.

4. Operational threat: These are characterized as the risk of misfortune coming about because
of deficient or fizzled strategies, individuals and structures or from outside events. This may
incorporate legitimate shot, anyway bars key and reputational danger. With regards to Oil
and Gas, the dangers are very relying upon the idea of the endeavor. For instance Carbon
emanation, land use design and biodiversity, defilement, and so forth.
5. Wellbeing and assurance: Both inland and seaward activities have exorbitant probabilities
of wellness and security (H&S) episodes that can have destroying impacts. The impressive
H&S dangers for the O&G area when all is said in done and E&P venture uniquely are
exemplified by utilizing destroying occasions comprehensive of BP's Deepwater Horizon
seaward apparatus (Macondo well) blast in 2010 principle to eleven fatalities. H&S the
executives couple with respectability of wells, apparatuses, pipelines and establishments
are instrumental in limiting risk of well blowups, fires and disasters which could prompt
laborer fatalities and mishaps.

Q2. Enumerate the innovative/niche practices which the industry should adopt in order to offer
greener and much more sustainable products.
Answer: The Oil and Gas industry are the main producer and consumer of energy. Almost half
of the energy in the world is supplied by this industry and the demand for the same is expected
to increase in the coming future. This industry is energy intensive and needs sufficient amount
of energy for its extraction and processing part and then finally transporting it to its end
consumers.
Some of the areas where the industry needs to work in order to offer greener and more
sustainable are:
1. Oil and Gas industry should focus more on usage of renewable energy sources and should
emphasize on efficiency of energy: By finding the ways to use the energy efficiently to
produce its products can be a more sustainable energy path in order to contribute to the
world. New environmental mitigation technologies for example carbon storage is one of the
ways to increase the use of energy efficiently. In order to be sustainable oil and gas industry
should continue to reduce waste and it can re-use that waste to generate energy.
2. Reducing Methane Leaks: Discovering approaches to decrease methane spills is a financially
savvy open door for the business. Ongoing figures from the International Energy Agency
have laid out that it is monetarily conceivable to reduce methane outflows using presently
accessible and rising innovations.
3. Promoting International Trade in Sustainable Energy Products: Making a worldwide market
for feedstocks, final products and technologies would expand the demand to research into
renewable energy sources. Bringing boundaries down to exchanging sustainable vitality
would likewise have a solid positive impact.
4. Reduce and eliminate routine flaring in production- Efforts should be made to reduce flaring
from production which helps in reducing inefficiencies and also increases the energy access.
5. Minimizing waste in production process and enhance the recycling and reuse of inputs.